Nick Gray, founder and CEO of Museum Hack. Nick thought museums were SO BORING!! Before he launched Museum Hack, he used word of mouth to advertise his idea and give free museum tours to his friends. Now his business is making over 1 million dollars per year.
Famous Five:
Favorite Book? – The Power of Full Engagement
What CEO do you follow? — Jeff Bezos
Favorite online tool? — Revue
Do you get 8 hours of sleep? — No. Use SleepTracker.
If you could let your 20 year old self know one thing, what would it be? – Do less drugs.
Time Stamped Show Notes:
01:40 – Nathan introduces Nick Gray
02:15 – How did you get into museums?
02:25 – “Renegade museum tours.”
02:40 – Revenue comes from charges for live tours
03:00 – Launched in 2013
03:10 – Over 10000 tours sold last year
03:20 – Total revenue was 1.3 million
03:30 – Average cost is $75 per tour
03:45 – Labor cost is $88 per person
04:15 – Net margin relies on high-end tours
04:40 – In the beginning, they got new customers from word of mouth
05:25 – First year revenue was $60k
05:45 – They want to attract people to keep coming back
06:00 – They need to up their repeat rate
06:15 – There are plenty of people to target
06:40 – He just started paying himself a salary
07:20 – His mom is his accountant
07:40 – He is learning to be a better CEO
07:50 – He supported himself with a full-time job at the beginning of the business
08:15 – He built up savings and committed to his museum business
08:40 – His last job gave him a very healthy salary
09:15 – He has always been a big saver
09:45 – His advice: Treating your passion like your job, and creating a demand by providing that product for free
10:30 – Some passions are worthless
10:45 – His team size is 12 full time and 25 part time, along with remote staff
11:15 – Expenses are up to $80k per month
11:40 – The pressure to break even does not worry him
12:10 – Moms and their lectures on receipts
13:10 – A connection with Trip Advisor
13:50 – “It was just a fluke.”
14:05 – His goal for this year is 2.2 million
14:15 – Museumhack.com and NickGray.net
15:45 – The Famous Five
3 Key Points:
Create a demand for your product by offering it for free.
Treat your passion like your job until you can transition to that passion full time.
Build up your savings, and be willing to take risks.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Toptal – Great for business people to start building their app
The Power of Full Engagement - Nick’s favorite business book
Revue – Nick’s favorite online tool
NickGray.net – Read Nick’s weekly newsletters
Show Notes provided by Mallard Creatives
Chris Evans, cofounder of Traffic and Funnels. Surrounded by incredible entrepreneurs, Chris decided that it was his time to build a success empire. His business Traffic and Funnels has taken a smart approach to business: They have focused on their strengths to get revenue, and now they are ready to expand.
Famous Five:
Favorite Book? – King Icahn
What CEO do you follow? — Trump and Zuckerberg
Favorite online tool? — Slack
Do you get 8 hours of sleep? — Yes
If you could let your 20 year old self know one thing, what would it be? – Find and invest in a mentor
Time Stamped Show Notes:
01:35 – Nathan introduces Chris
01:55 – Chris worked with a lot of amazing entrepreneurs and decided to build his own empire
02:40 – He helps experts built client acquisition systems
03:00 – 1 $5500 product, and an upsell
03:25 – Traffic and Funnels is a slick website
03:40 – The numbers
03:50 -- $660000 in revenue for 2016 so far
04:30 – The problem with paid marketing
04:50 – Understanding the market and validating the product
05:15 – The biggest mistake is not understanding that market.
05:40 – The higher value products had a larger margin for error
06:00 – Cost to acquire a client is $400 to $700
06:15 – Solid revenue goals
06:40 – Advice for the info-product space
07:00 – Have clarity
07:30 – You need a target and a specialization
07:50 – Track your numbers and know what you need to break even
08:00 – How do you think about stages for scaling?
08:25 – The revenue must keep up with the spending.
08:50 – Know your business model and your plan.
09:10 – Work your way backwards.
09:25 – Take out any emotion.
09:45 – An evergreen business
10:00 – A launch-style business is more stressful up front
10:20 – You have to be smart and build credibility.
10:50 – Why this model?
11:10 – To build up a kiddy and launch their own evergreen info product
11:35 – Starting with their biggest strength
11:45 – Building stability and growing
12:10 – Taking on more employees does not scare him.
12:30 – They can get through adversity.
12:44 – Go to trafficandfunnels.com and Facebook.com/chrisaevans
14:55 – The Famous Five
3 Key Points:
Start with your biggest strength until your business has stability.
Create a plan and work your way backwards.
Understand the market and validate your product.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
King Ichahn - Chris’ favorite business book
Slack – Chris’ favorite online tool
Toptal – Great for people to get access to software developers
Show Notes provided by Mallard Creatives
Jonathan Gass of Nomad Financial. Jonathan founded his company because he decided to focus his career on entrepreneurship and startups. His business works with startups to help them make smart financial plans and fundraising decisions. Today we’ll learn from him about what pitfalls to avoid in our own startups.
Famous Five:
Time Stamped Show Notes:
3 Key Points:
Resources Mentioned:
Roy Man, CEO of Dapulse. Dapulse is a tool designed to solve “inherently problematic” management strategies in businesses. The company has a philosophy of being transparent with their revenue and numbers, all of which you can find on their Instagram page.
Famous Five:
Favorite Book? – The Hard Thing About Hard Things
What CEO do you follow? — Avishai Abrahami
Favorite online tool? — FullStory
Do you get 8 hours of sleep? — No.
If you could let your 20 year old self know one thing, what would it be? — No regrets.
Time Stamped Show Notes:
01:20 – Nathan introduces Roy Man
01:50 – What is Dapulse?
01:55 – A management tool for your company
02:20 – Solving something that was “inherently problematic”
02:30 – A SaaS business launched in February 2014
03:00 – Currently over 5000 customers
03:20 – Each company, or customer, pays a certain amount, depending on their team size
03:50 – Total MRR in June was $360k
04:15 – See screenshots of their numbers on Instagram
04:50 – They have raised $9 million
05:00 – They started with raising $1.5 million
05:40 – The startup mentality
06:20 – Their valuation was 3.53 million
07:00 – A solid product with a good market
07:15 – A year of product marketing and finding what people were using for management
07:50 – “People think in tables.”
08:25 – The product market fit
08:45 – They started to launch and scale and did a convertible note
09:10 – Their last round of funding was $5 million, with a post valuation of $28.5 million
09:45 – First year revenue was less than a million
10:20 – Customer acquisition cost varies
11:10 – Average is about $600
11:55 – Monthly customer churn is 2%
12:20 – Negative revenue churn
13:30 – Lifetime value is great
14:20 – Churn is not relative in terms of money
14:40 – As you scale, some customers will leave
15:10 – Expand your customer circle as much as you can
15:25 – Team size is about 35
15:40 – Total 2015 revenue was about 3 million
16:35 – Connect with Roy at roy@dapulse.com
17:05 – Roy’s Blog on Medium
19:30 – The Famous Five
3 Key Points:
Create a product that has strong market potential.
Spend time getting to know what your customers will want out of your product or service.
Expand your customer circle as much as you can.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
FullStory – Roy’s favorite online tool
The Hard Thing About Hard Things – Roy’s business book recommendation
Toptal – Great for people to get access to software developers
Show Notes provided by Mallard Creatives
Max Pechersky, co-founder of PromoRepublic. His company focuses on helping marketing freelancers get new ideas and strategies for content marketing. As PromoRepublic continues to grow, the company is stretching its boundaries to provide more products for freelancers.
Famous Five:
Favorite Book? – Intercom on Product Management
What CEO do you follow? —
Favorite online tool? — Wunderlist
Do you get 8 hours of sleep? — Almost never.
If you could let your 20 year old self know one thing, what would it be? — It’s ok if someone doesn’t like me.
Time Stamped Show Notes:
01:20 – Nathan introduces Max
02:05 – The co-founder of PromoRepublic
03:00 – He owns thirty percent of the company
03:20 – It’s a software service that helps with content marketing.
03:45 – Solving the frustrations of marketing freelancers
04:10 – The business was founded at the end of 2013
04:45 – First year total revenue – 30000 euro
05:00 – Now he has 10k in recurring revenue
05:50 – Total customers: 600
06:10 – Customer pricing is about $12 per month
07:00 -- $650000 raised
07:30 – It was a grant and a soft loan.
08:00 – Churn monthly is 8%
08:50 – They had to decide which customers to focus on
09:30 – They moved to freelance marketers
09:50 – It’s about $100 in acquisition cost
10:30 – The average person stays for about a year.
11:14 – Additional revenue streams
11:25 – Social media templates
11:40 – Like stock photos for social media posts
12:00 – Max@PromoRepublic.com
13:30 – The Famous Five
3 Key Points:
Channel your product toward a specific market.
When you start to see success, look for additional revenue streams.
Come up with an idea that solves a fundamental problem.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Toptal – Great for business people to start building their app
Wunderlist – Max’s favorite online tool
Intercom on Product Management – Max’s favorite business book
Show Notes provided by Mallard Creatives
Brian Wong, who started his company Kiip after getting laid off. As his company has grown and matured, his cofounders have moved on. But Brian is incredible grateful for his company and believes in sticking to your decisions and putting your whole heart and soul into your business. Now Kiip is on track to make $20 million this year, so he must be doing something right.
Famous Five:
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Resources Mentioned:
Deepak Goel, the mastermind behind his new company KarmaCircles. Deepak says the company is the next-generation LinkedIn. He believes he has found his calling in life as an entrepreneur in the social networking niche.
Famous Five:
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Resources Mentioned:
Massimo Chieruzzi, CEO of AdEspresso. His company, founded in 2013, is now so profitable that he says they don’t need fundraising! Massimo sees only growth for AdEspresso in the future as Facebook ads continue to evolve and improve.
Famous Five:
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3 Key Points:
Resources Mentioned:
Massimo Chieruzzi, CEO of AdEspresso. His company, founded in 2013, is now so profitable that he says they don’t need fundraising! Massimo sees only growth for AdEspresso in the future as Facebook ads continue to evolve and improve.
Famous Five:
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Resources Mentioned:
Adam Tishman, cofounder of Helix Sleep. His company gives every customer a custom-made mattress that is even more affordable then retail brands. With several options, customers can come up with hundreds of different combinations to build their perfect, individualized mattress. Learn about Helix Sleep’s goals to continue expanding and to provide the best customer experience.
Famous Five:
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3 Key Points:
Resources Mentioned:
Michael Hollauf, cofounder and CEO of MeisterLabs. The company works to provide resources to collaborate across digital platforms. Now they are introducing a new service, MeisterTask, which focuses on better task management and a fun user experience. Hear about how MeisterLabs has hit the ground running and is continuing to introduce new tools to help businesses and entrepreneurs succeed.
Famous Five:
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Resources Mentioned:
Jon Lee, CEO of ProsperWorks. Jon has jumped to many different industries, from gaming to tech to banking. As an entrepreneur with success in multiple companies, he believes in going after your business goals as soon as possible. Listen to his journey through his businesses and how he ended up with ProsperWorks.
Famous Five:
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Resources Mentioned:
Kevin Davis, who came up with a creative solution for tech support. After waiting weeks to get his computer back from the Geek Squad, he thought there had to be a quicker, better solution. He created Geekatoo as a platform for people to find tech experts in their own neighborhoods.
Famous Five:
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Resources Mentioned:
Byron Walker, owner of Survival Frog. Byron is passionate about scaling businesses that will change the world. Hear the breakdown of Survival Frog and what launched this company into huge success.
Famous Five:
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3 Key Points:
Resources Mentioned:
Hamza Amir, who is the CEO of Blurbiz. As a marketing guru working for household names like Disney and Coca-Cola, Hamza saw a problem in the industry with mobile videos. He kept hearing the same complaints, but no one was doing anything about it. Hamza came up with the solution when he created Blurbiz.
Famous Five:
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Resources Mentioned:
Danavir Sarria. After working as a freelance copywriter, Danavir wanted to stop working with clients and start working for himself. He created CopyMonk, a service that teaches people how to increase sales by producing effective copy. At only 22 years old, Danavir is making a place for himself as an expert copywriter.
Famous Five:
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Resources Mentioned:
Joe Hyrkin, CEO of Issuu. Joe enjoys working in the publishing industry because it is driven by passion. It is a collective space for people who are moved about something to experience that thing together. Listen as Joe talks about Issuu, which has brought the publishing industry into a modern, digital context.
Famous Five:
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Resources Mentioned:
Julie Fredrickson from Stowaway Cosmetics. Have you ever felt like your purse was so heavy it could take someone out with one swing? Every lip gloss, concealer, and eyeliner really adds up! Julie has a found a solution to this problem with Stowaway Cosmetics, which focuses on creating a more mobile product for women on the go. Listen as she tells us how she has transformed the beauty industry with products that actually get used.
Famous Five:
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3 Key Points:
Resources Mentioned:
Phil Alexander, founder and CEO of ConceptDrop. His company has a mission to get your projects done while you’re sleeping. You can send your project to ConceptDrop and expect to see the end result within mere hours. Listen as Phil tells us about the incredible growth of his business and what he sees for ConceptDrop in the future.
Famous Five:
Favorite Book? – The Wall Street Journal
What CEO do you follow? — Sundar Pichai
Favorite online tool? — Hubspot
Do you get 8 hours of sleep? — No.
If you could let your 20 year old self know one thing, what would it be? — You’re not going to learn everything in business school. Start selling as soon as you can.
Time Stamped Show Notes:
01:05 – Nathan introduces Phil
01:40 – ConceptDrop
02:05 – Servicing over 300 brands
02:25 – A global network of sellers
02:58 – About 30% taken from the sellers
03:25 – They set the prices
03:48 – Upselling to the buyers
04:10 – The average buyer
04:25 – Started in 2012
04:50 – First-year revenue was a couple thousand
05:10 – Funds raised
06:00 – Valuation was between $5 to $7 million
06:20 – Reasons for the valuation come down mostly to growth rate
07:15 – Investors
07:30 – 300 buyers, and under 100 sellers
08:00 – Average seller makes $500 per project, with 4 to 5 projects each month
08:55 – Seeing great growth
09:40 -- $10,000/month to much higher
10:35 – Repurchase rates
11:24 – Total revenue for 2015 was just under $300k
11:55 – Last month, 50 companies used the platform
12:45 – Small, high-quality pool of freelancers
13:10 – A lot of potential in the near future
14:20 – phil@conceptdrop.com, @philalexander1 on Twitter
16:30 -- The Famous Five
3 Key Points:
There is no perfect formula for starting a business.
High-quality service is a great way to make your business stand out.
Assess your business for its potential.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Hubspot – Phil’s favorite online tool for marketing and sales
Show Notes provided by Mallard Creatives
Yahya Mokhtarzada, co-founder of Truebill. Truebill is a free online tool designed to keep track of all of your monthly subscriptions and find ways to save you money. With so many products requiring a subscription fee, Truebill keeps your bills more organized and paid on time.
Famous Five:
Favorite Book? – Onward
What CEO do you follow? — Jeff Bezos
Favorite online tool? — Ahrefs
Do you get 8 hours of sleep? — No chance.
If you could let your 20 year old self know one thing, what would it be? — Take bigger risks.
Time Stamped Show Notes:
01:10 – Nathan introduces Yahya
1:30 – Truebill keeps track of recurring bills and subscriptions
2:00 – Free for users
2:20 – Looking at transactions and making recommendations
2:50 – Business development deals
3:20 – Launched in January 2016
03:40 – Healthy growth each month
04:00 – Up to $50k/month at the end of the year
04:20 – Saving other people money
04:45 –$1.75 million in capital
05:15 – Agreement for future equity
06:20 – User data
06:40 – Deals with businesses for advertising
07:50 – Introducing users to the products of those businesses
09:00 – Total users signed up are 50000
09:25 – Activation metrics
09:50 – Different options to explore for the future
10:30 – “the low-hanging fruit”
11:10 – blog.truebill.com
13:10 -- The Famous Five
3 Key Points:
Consider taking bigger risks when you can afford to do so.
Focus your business model on helping other people.
Start with “the low-hanging fruit” to get your business going.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Ahrefs – Yahya’s favorite online tool for assistance with SEO.
Show Notes provided by Mallard Creatives
Raj Bhaskar, CEO and cofounder of Hurdlr. Hurdlr is an online tool that helps freelancers and entrepreneurs track their income and taxes. It helps people save money by calculating deductions within seconds. Nathan and Raj will discuss the beginning of Hurdlr and where they are headed in the future.
Famous Five:
Favorite Book? – The One Thing
What CEO do you follow? — Gary Keller
Favorite online tool? — Google Drive, Freshbooks
Do you get 8 hours of sleep? — No.
If you could let your 20 year old self know one thing, what would it be? — Don’t be so serious.
Time Stamped Show Notes:
01:03 – Nathan introduces Raj
02:15 – VisualHOMES acquisition price
02:35 – Revenue model
03:10 – Using proceeds from that as an investor and for Hurdlr
03:25 – Hurdlr launched a couple years ago
03:40 – It tracks finances and taxes for freelancers
04:25 – Competitors
04:40 – “Like Mint but for business.”
05:15 – Quick process compared to competitors
05:55 – They integrate with Freshbooks
06:20 – The business model
06:30 – They are currently pre-revenue
06:45 – Monthly or annual fee
07:10 – Other mobile solutions are different
07:40 – They have no desktop product
08:00 – Mobile is fast
08:30 – Founded 2.5 years ago
08:50 – Costs started in 2014
09:10 – Capital has been over $1.5 million
09:50 – 16 fulltime employees
10:25 – Usage metrics
10:45 – Mileage tracking
11:15 – Syncing with credit card
11:30 – Tens of thousands users, with 70% active once a month
12:00 – Pricing plan
12:20 – Simple and “part of the customer experience”
12:40 – “Pricing should bring a smile to your face.”
13:00 – Referrals
13:15 – Tracking savings through deductions
13:40 – The option to continue paying a monthly fee
14:10 – hurdlr.com with real-time chat
16:15 -- The Famous Five
3 Key Points:
Come up with a pricing model that you would feel comfortable paying.
Find a niche that sets you apart.
Use new technology to come up with helpful solutions.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Google Drive and Freshbooks -- Raj’s favorite tools, besides Hurdlr
Show Notes provided by Mallard Creatives
Cory Gregory, a fourth-generation coalminer who has made it to the top in the fitness industry. Cory has now developed his personal brand on his website where people can pay $8.99 per month to get his top workout plans and his daily articles and videos on how to get into incredible shape.
Famous Five:
Favorite Book? – Rich Dad Poor Dad
What CEO do you follow? — Bill Phillips
Favorite online tool? — Quickbooks
Do you get 8 hours of sleep? — No.
If you could let your 20 year old self know one thing, what would it be? — Have a strong strategy early.
Time Stamped Show Notes:
01:03 – Nathan introduces Cory
01:30 – Most money is in selling memberships and books on his internet business
02:00 -- $8.99/month membership
02:15 – Products in 100 countries
02:30 – Cofounder of MusclePharm
02:55 – Now a public company
03:15 – “A lot of Wall Street and a lot of boardrooms just really wasn’t for me.”
03:40 – Now owns 3%
04:00 – Went public in 2010
04:30 -- $40 million raised in capital
05:35 – “I learned a ton…. It changed my life forever.”
05:50 – He left the business about 9 months ago.
06:20 – “That thing’s bleeding cash.”
06:35 – Cory was in the programming and products side
06:50 – Proper management was a downfall
07:20 – “It was a rise to the top.”
07:40 -- $160 million in revenue
08:00 – Marketing was huge
08:40 -- Creating a personal brand
09:00 – “I feel blessed.”
09:20 – First gym started for $5000
09:30 -- The Old School Gym
09:40 -- $100k in memberships
10:00 – Biggest expenses
10:40 – six-figures in profit
11:20 – Revenue is more than $100k
11:40 – MusclePharm started at 30 years old
11:55 – corygfitness.com
12:05 – five 4-week plans every month
12:30 – Articles and videos every day
13:00 – Thousands of people use his monthly plan
13:20 – The reason for his vagueness
14:10 – Total revenue was $34k in his first month for his personal brand
15:20 – “There is nobody on the planet who can say they have done what I’ve done.”
16:20 – corygfitness.com, Snapchat, YouTube, Twitter, Instagram
16:40 – Business and Biceps podcast
19:00 -- The Famous Five
3 Key Points:
Don’t be confined to the environment you were raised in.
Develop your personal brand.
Find ways to make your service stand out.
Resources Mentioned:
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Quickbooks -- Cory’s favorite invoicing tool
Business and Biceps – Cory’s podcast
Show Notes provided by Mallard Creatives